Tall white candlestick on Friday: 6.50% gain
Nice pop on Friday but there has to be follow-through next week. The intermediate trend is still down and the 20-day simple moving average is a good approximation of the intermediate downtrend.
Reference the last chart analysis on April 18, 2013 where I highlighted the hammer.
______________________________
Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.
© 2013 TradeOnline.ca